The Central Bank of Nigeria (CBN) has confirmed the approval of 82 Bureau De Change (BDC) operators who have now received final licences to commence operations effective November 27, 2025. The approvals align with the apex bank’s strengthened regulatory framework for Nigeria’s foreign exchange market.
According to an official statement signed by Hakama Sidi Ali, Acting Director of Corporate Communications, the licences were issued under the CBN’s powers as provided in the Banks and Other Financial Institutions Act (BOFIA) 2020 and the 2024 Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria.
The CBN stated that only BDCs published on its website are authorised to operate, adding that the list will be updated continuously to support public verification and promote transparency. The bank also cautioned individuals and businesses against transacting with unlicensed FX dealers.
ALSO: CBN Revokes 1,435 BDC Licences in Major Sector Cleanup
Reaffirming the legal implications, the CBN reminded the public that operating a BDC without a valid licence is a criminal offence under Section 57(1) of BOFIA 2020. The Bank urged Nigerians to adhere to the revised regulatory framework as it pushes forward with measures to sanitise and stabilise the retail FX segment.
As part of the revised guidelines introduced in February 2024, licensed BDCs must meet the new minimum capital requirements of ₦2 billion for Tier-1 operators and ₦500 million for Tier-2 operators. The CBN had earlier confirmed that the recapitalisation deadline for all BDCs elapsed on June 3, 2025.
FULL LIST OF 82 NEWLY APPROVED BDC OPERATORS
TIER 1 BDCs
Dula Global BDC Ltd
Trurate Global BDC Ltd
TIER 2 BDCs
Abbufx BDC Ltd
Acha Global BDC Ltd
Arctangent Swift BDC Ltd
Ascendant BDC Ltd
Baracai BDC Ltd
Bergpoint BDC Ltd
Bravo Model BDC Ltd
Brimestone BDC Ltd
Brownston BDC Ltd
Buzzwallet BDC Ltd
Cashcode BDC Ltd
Chattered BDC Ltd
Chronicles BDC Ltd
Cool Forex BDC Ltd
Corporate Exchange BDC Ltd
Courtesy Currency BDC Ltd
Danyaro BDC Ltd
Dashad BDC Ltd
Deval BDC Ltd
DFS BDC Ltd
Easy Cash BDC Ltd
Elelem BDC Ltd
E-Lioyds BDC Ltd
Elogoz BDC Ltd
Enouf BDC Ltd
Ever Joj Gold BDC Ltd
Excel Rijiya Forex BDC Ltd
Fabforex BDC Ltd
Fellom BDC Ltd
Fine BDC Ltd
Fomat BDC Ltd
Genelo BDC Ltd
Gentle Breeze BDC Ltd
Graceful Glory and Humility BDC Ltd
Greengate BDC Ltd
Greenvault BDC Ltd
Hazon Capital BDC Ltd
High-Point BDC Ltd
I & I Exchange BDC Ltd
Ibn Maryam BDC Ltd
Journey Well BDC Ltd
Keepers BDC Ltd
Khadhouse Solutions BDC Ltd
Kimmelfx BDC Ltd
Kingsoft Atlantic BDC Ltd
M.S. Alheri BDC Ltd
Masters BDC Ltd
Mcmena BDC Ltd
Mkoo BDC Ltd
MKS BDC Ltd
Mr J Golf BDC Ltd
Musdiq BDC Ltd
MZ Forex BDC Ltd
Nejj BDC Ltd
Netvalue BDC Ltd
New Wave BDC Ltd
Notable and Kingston BDC Ltd
Pilcrow BDC Ltd
Rapid BDC Ltd
Rightway BDC Ltd
Rwanda BDC Ltd
Sables BDC Ltd
Safetranz BDC Ltd
Samfik BDC Ltd
Sevenlocks BDC Ltd
Shapearl BDC Ltd
Simtex BDC Ltd
Solid White BDC Ltd
St. Nicholas Global BDC Ltd
Topfirst Unique Multichoice BDC Ltd
Topgate BDC Ltd
Traveller’s Choice BDC Ltd
Tuca Global BDC Ltd
Turbova BDC Ltd
Turn-Up BDC Ltd
Unigo BDC Ltd
Victory Ahead BDC Ltd
Whiteway WWW BDC Ltd
Yund Global Link BDC Ltd
Zamad Forex BDC Ltd
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